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MS HB364
Bill
Status
Failed
2/25/2026
Primary Sponsor
Rickey Thompson
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AI Summary
- Authorizes the issuance of up to $15,000,000 in Mississippi state general obligation bonds to fund construction, furnishing, and equipping of a new elementary school, related facilities, and a playground for the Okolona Municipal Separate School District
- Creates the "2026 Okolona Municipal Separate School District Elementary School Fund" as a special fund within the State Treasury, separate from the General Fund, with unexpended balances and investment earnings retained in the fund
- Bonds may mature no later than 25 years from the date of issue, are tax-exempt in Mississippi, and are backed by the full faith and credit of the State of Mississippi
- No bonds may be issued under this act after July 1, 2030, and any funds remaining after project completion or abandonment must be applied to debt service on the bonds
- Effective date is July 1, 2026, with the State Bond Commission serving as the issuing agent responsible for determining bond terms, sale method, and related procedures
Legislative Description
Bonds; authorize issuance for construction of a new elementary school for the Okolona Municipal Separate School District.
Last Action
Died In Committee
2/25/2026
Committee Referrals
Ways and Means1/9/2026
Full Bill Text
No bill text available